Facilitating a real estate transaction requires the involvement of multiple businesses (e.g., banking, insurance, title attorneys, inspection companies, appraisers, etc.) with the buyers and sellers required to coordinate all of these disparate parties in order to complete the transaction. In addition, individuals interested in purchasing or renting real estate often desire to identify available properties that fall within the bounds of their selected search parameters (e.g., price range, square footage, number of bedrooms, etc.).
However, these individuals often do not know how much home they can afford, nor do they understand the other expenses associated with homeownership, as searches for properties for sale or rent typically performed on a website provided by a real estate agent or listing service. The agents or listing services do not understand the financial positions of the buyers as the searches are made, thus the search results often include properties that the buyer cannot afford.
The above problems are amplified for those buyers and sellers that wish to proceed without a realtor. Not only are there difficulties in scheduling appointments for buyers to visit seller's homes, there are difficulties in obtaining contracts for agreement of sale, appraisals, and other necessary steps in order for buyer to purchase a home for sale.